Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in ConocoPhillips $COP

Mirae Asset Global Investments Co. Ltd. acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,644,894 shares of the energy producer's stock, valued at approximately $205,858,000. Mirae Asset Global Investments Co. Ltd. owned about 0.14% of ConocoPhillips at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COP. Aviance Capital Partners LLC boosted its holdings in ConocoPhillips by 4.1% during the third quarter. Aviance Capital Partners LLC now owns 28,779 shares of the energy producer's stock worth $3,602,000 after buying an additional 1,146 shares in the last quarter. Northern Financial Advisors Inc purchased a new position in ConocoPhillips in the third quarter valued at $213,000. Vise Technologies Inc. increased its holdings in ConocoPhillips by 19.5% in the third quarter. Vise Technologies Inc. now owns 82,989 shares of the energy producer's stock valued at $10,386,000 after buying an additional 13,525 shares in the last quarter. Grandfield & Dodd LLC raised its position in shares of ConocoPhillips by 1.6% in the third quarter. Grandfield & Dodd LLC now owns 39,113 shares of the energy producer's stock worth $4,895,000 after acquiring an additional 600 shares during the period. Finally, Investment Partners LTD. acquired a new position in shares of ConocoPhillips in the third quarter worth about $236,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Buying and Selling

In related news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. William Blair initiated coverage on ConocoPhillips in a research report on Wednesday. They set a "market perform" rating on the stock. Mizuho reduced their price target on ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. Truist Financial upped their price target on ConocoPhillips from $130.00 to $136.00 and gave the stock a "hold" rating in a report on Wednesday, October 7th. Jefferies Financial Group increased their price target on ConocoPhillips from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $157.00 price objective on shares of ConocoPhillips in a report on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus price target of $145.00.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices—Brent crude was reported near $104 per barrel—are improving the earnings outlook for ConocoPhillips and other exploration and production companies. Analysts also see favorable indicators for a potential third-quarter earnings beat. ConocoPhillips to Report Q3 Earnings: What’s in the Cards?
• Positive Sentiment: ConocoPhillips is being highlighted as a relatively low-beta energy stock that may appeal to investors seeking resilience during market volatility. Its upstream portfolio, growth prospects and investment program are supporting the constructive view. Stay Ahead of Market Uncertainty With BP, XOM, COP and E
• Neutral Sentiment: Several valuation-focused reports describe COP as a strong value stock and emphasize its powerful multiyear performance, while noting that investors must determine whether current earnings can justify the elevated share price. ConocoPhillips Stock Stays Hard To Call On Strong Q2 Earnings
• Neutral Sentiment: Piper Sandler initiated coverage on ConocoPhillips, potentially increasing analyst attention, although the available report does not provide a rating or price target. Piper Sandler Initiates Coverage on ConocoPhillips
• Negative Sentiment: Technical analysts warn that COP may be overbought after its strong gains, with a relative-strength reading above 70. That raises the risk of profit-taking or a pullback if oil prices or earnings disappoint. Top 3 Energy Stocks You May Want To Dump In Q4
• Negative Sentiment: Reported job cuts in Alberta add a near-term reputational and operational concern, while comparisons with Chevron and EOG Resources highlight uncertainty over how well ConocoPhillips’ dividend would hold up during a major oil-price downturn. ConocoPhillips Cuts Alberta Jobs

ConocoPhillips Stock Up 2.7%

Shares of NYSE COP opened at $154.10 on Friday. The stock has a market cap of $185.13 billion, a PE ratio of 20.38, a P/E/G ratio of 1.50 and a beta of 0.24. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $154.28. The company has a 50-day moving average of $136.14 and a 200 day moving average of $121.05.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business's revenue was up 32.4% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 11.41 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is currently 44.44%.

ConocoPhillips Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company's portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

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